Think of the Children?

I was reading the New York Times today, as I do when I’m feeling a little self-flagellatory, and I stumbled across an article by Andrew Ross Sorkin that painted a bleak picture of Obama’s address to Richard Parsons, Roger Altman, and other Wall Street honchos last week.

Sorkin’s conclusion was that, after listening to the address and speaking with some of these executives, an overhaul of financial oversight is not likely coming soon -- or perhaps, coming at all -- to theaters near us. He did offer readers the quantum of solace that Barney Frank (who should definitely be considered for the next 007 movie) seems intent on being at the forefront of any regulatory re-conception. But for some reason I don't think that supposition will act like the Xanax most Americans need right now.

I then came across a slideshow about a little something called “Camp Millionaire,” which appears to be a series of camps in the Northeast that offer grade-school kids the “opportunity to learn about fiscal responsibility.”

At first, I was relieved that SOMEONE is finally THINKING ABOUT THE CHILDREN. Then, my relief gave way to shock that Americans are able to afford to send their children to this kind of specialized, Scrooge camp. Though, hey, at least it’s not “Billionaire Camp.” I mean, I’ve heard of Band Camp, Summer Camp, Chess Camp, Rehab, among others, but Millionaire Camp is, at least for me, a novel idea.

Reading on, I learned that the camp offers children the opportunity to participate in fiscally educational games like, “supply and demand musical chairs!!” I shit you not. At the beginning of the game, kids are given $200 and, by the end, the winner ends up with all the collective dough. And gets to be the Chairman, I guess. But don’t worry, the kids don’t play with REAL money, it’s probably Canadian...

This slideshow, seen in juxtaposition with Sorkin’s dire conclusions about the pathetic level of commitment to a regulatory re-design on Wall Street, can lead to some interesting questions. (Hopefully.) If it’s true that education can lead to the tempering of ignorance (and most will remember how many idealists proposed that a potential gambit for quelling religio-inspired terrorism was through education of young people on world issues – specifically the education of those ready to suicide bomb) -- then perhaps these kind of camps may not be such a bad idea after all.

Starting kids on suckling from the teat of financial prudence at an early age may be a reasonable strategy for improving the inertia for change that may or may not prevail in big financial institutions today.

But, really, I just like to picture the heads of all the major banks in the U.S. being forced to play supply and demand musical chairs -- or enjoying a Detroit version of Monopoly…

I’d love to know what you think, fellow primates…Should we be thinking of the children when we consider hoping for regulation?